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Stocks in news: Biocon, Canara Bank, PVR, PNB Housing, HDFC Life, L&T, SBI Life, Axis Bank and more

Stocks to watch today on January 23: Biocon, Canara Bank, PVR, PNB Housing, HDFC Life, L&T, SBI Life, Axis Bank among others are the top stocks to watch out for in Thursday's trading session

twitter-logoBusinessToday.In | January 23, 2020 | Updated 07:14 IST
Stocks in news: Biocon, Canara Bank, PVR, PNB Housing, HDFC Life, L&T, SBI Life, Axis Bank and more
Stocks to focus today:Biocon, Canara Bank, PVR, PNB Housing, HDFC Life, JM Financial, Oriental Bank of Commerce, GHCL, Reliance Nippon among others will be releasing their Q3 results today

Stocks in the news today: Here is a list of top stocks that are likely to be in focus in Thursday's trading session based on latest developments. Investors are also awaiting December quarter earnings that are scheduled to be released today. Companies set to announce their earnings are Biocon, Canara Bank, PVR, PNB Housing,  HDFC Life, JM Financial, Oriental Bank of Commerce, GHCL, Reliance Nippon among others.

Ceat Ltd Q3: Net profit recorded during Q3 FY20 came in flat at Rs 52.8 cr (YoY). Ceat's Revenue reported 1.9% rise to Rs 1,762 cr for the quarter ended December 31, 2019, as against Rs 1,730 cr (YoY) recorded in the same period a year ago. Company's EBITDA stood at Rs 183.2cr, registering a rise of 28.5% (YoY) compared to Rs 142.6 cr in Q3FY19. Shares of Ceat Ltd closed 0.79% lower at Rs 999.50 on Wednesday.

RBL Bank Q3: Net profit of the company registered de-growth of 69% (YoY) to Rs 69.9 cr in the quarter under review as against Rs 225.2 cr reported in the same quarter last year. Lender's Net Interest Income grew 41% to Rs 923 cr as compared to Rs 655 cr. On a yearly basis, company's GNPA stood at 3.33% as against 1.38% and its NNPA came in at 2.07% vs 0.72%. Provisions of RBL Bank during October-December quarter stood at Rs 638 cr compared to Rs 533 cr on a quarterly basis, recording a growth of 19%. Shares of RBL Bank closed 0.67% lower at Rs 339.10 on Wednesday.

Axis Bank Q3: Net profit during quarter under review grew 5% (YoY) to Rs 1,757 cr as compared to Rs 1,681 cr recorded in December  quarter in a year ago period. Lender's Net Interest Income grew 15% to Rs 6,453 cr as against Rs 5,604 cr on a yearly basis. Provisions of Axis Bank during October-December quarter stood at Rs 3,470.92 cr compared to Rs 3,518.39 cr on a quarterly basis, recording a growth of 19%. On a quarterly basis, Fresh slippages (QoQ) stood at Rs 6,214 cr in Q3 FY19 as against Rs 4,983 cr in Q2 FY20. Shares of Axis Bank closed 1.08% lower at Rs 710 on Wednesday.

SBI Life Insurance Q3: The company on Wednesday reported a 47.4% growth in profit after tax (PAT) at Rs 389.44 crore for the third quarter ended December 2019, compared to Rs 264.28 crore during the October-December period previous year. Company's solvency ratio as on December 31, 2019, was at 2.30 as against the regulatory requirement of 1.50. New business value for 9MFY20 registered growth of 27% at Rs 1,650 cr. Gross Premium Income grew 28.3% at Rs 11,760 cr in teh quarter under review as against Rs 9,169 cr recorded in a year ago period. Shares of SBI Life Insurance closed 0.96% higher at Rs 928.35 on Wednesday.

L&T Q3: Company's consolidated Profit After Tax (PAT) from continuing operations for the quarter ended December 31, 2019, at Rs 2,560 cr, registering a growth of 15% over Rs 2218.68 cr recorded in the corresponding quarter of the previous year. Larsen & Toubro recorded consolidated Revenue of Rs 36,243 cr from continuing operations for the quarter ended December 31, 2019, achieving growth of 6% (YoY) from Rs 36,233 cr. Shares of L&T closed 0.64% lower at Rs 1,294.25 on Wednesday.

Hindustan Fluorocarbons: The Union Cabinet on Wednesday approved closure of Hindustan Fluorocarbons Ltd (HFL). "CCEA approves closure of HFL, a central public sector enterprise under the department of chemicals and petrochemicals," an official statement said. Shares of Hindustan Fluorocarbons closed 8.61% higher at Rs 8.70 on Wednesday.

Q3 Earnings Today: Biocon, Canara Bank, PNB Housing Finance, PVR, Radico Khaitan, HDFC Life Insurance, HT Media, JM Financial, Oriental Bank of Commerce, GHCL, Reliance Nippon Life Asset Management, Zee Media Corporation, Cholamandalam Investment and Finance, Rane Braking, GMM Pfaudler, Indiabulls Ventures, EIH Associated Hotels, JK Agri Genetics, Pioneer Distilleries, South India Paper Mills are among others will be releasing their Q3 results today

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